Final Account of the State Budget Chapter the Czech Securities Commission
Press release on completion of the auditing operation No. 05/13
The aim of the auditing operation “Final Account of the State Budget Chapter the Czech Securities Commission” was to examine the accuracy of financial statements, which were the base for the final account of the state budget chapter 347 – The Czech Security Commission 2004. The audit dealt with activities, which were the object of accounting of the Czech Securities Commission and influenced the closing balance value in its financial statements elaborated on the date 31.12.2004, also including relevant facts from previous accounting periods.
The auditing operation was managed by Mr. Jan Vedral, Member of the SAO.
We can state in compliance with the recommendations of the international auditing standards INTOSAI that the financial statements finalized by the Czech Securities Commission on the date 31.12.2004 do not give a true and fair picture of the object of accounting from accounting period 2004, thus they are not a reliable base for the compilation of the final account of this chapter.
Total of irregularities in the closing accounts of the state budget chapter amounts to CZK 122 million. The total volume of breaches of budgetary discipline was found to be in the amount of CZK 2.9 million.
These irregularities were caused particularly by inconclusiveness, overestimating or underestimating of various items of the relevant statements in consequence of breaches of generally binding legal regulations.